Tickers: XTSX:EYC, PINX:EYCCF
Toronto, Ontario - TheNewswrie - April 14, 2020 - Eyecarrot Innovations Corp (TSXV:EYC) | (OTC:EYCCF) | (2EYA:GR), announces that it, together with certain of its current directors and officers, as well as a former director (the "Director Group"), have entered into a settlement agreement dated April 14, 2020 with the former dissident shareholder of the Company Justin Liu. Pursuant to the settlement agreement, which is subject to the approval of the TSX Venture Exchange, the Company will make a further and final payment to Mr. Liu of $500,000, in addition to the previously announced payment of $500,000 and in consideration therefor, Mr. Liu will dismiss the notice of civil claim filed in the B.C. Supreme Court against the Director Group (see press release dated October 3, 2019). The parties have also agreed to provide mutual covenants not to bring further claims arising from matters occurring prior to the Settlement Agreement as well as to provide full irrevocable releases from any such matters.
"We are happy to have finalized this settlement so that the sole focus of management can be on operational matters and specifically extending the reach of our Binovi Platform." said Adam Cegielski, Eyecarrot Founder and CEO.
About Eyecarrot Innovations Corp (EYC)
Eyecarrot is a human performance technology company that has developed Binovi, a hardware and software-centered platform. Binovi combines hardware, software, specialized expert knowledge, and unique big data insights in order to deliver customized one-on-one training and treatment. Binovi is designed for vision optimization and the enhancement of skills related to human performance. We are working together under a common banner to help neuro-optometry, vision rehabilitation, and vision performance professionals gain measurable results in less time, and with less effort.
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Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations, and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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